ATM Transaction: It is often seen that when we use ATM to withdraw money from ATM, money does not come out due to any fault in the ATM, but you get the message of deducting money from the bank. After standing in the ATM for a long time, the money does not come out. Under these circumstances, customers get upset. In such a situation, the customers are left with no other option than to just wait for the money to come back. Even after calling the customer care, customers are informed that their stuck money will be returned within 24 hours. But sometimes it takes months for the money to arrive instead of 24 hours.
In such a situation, most of the bank customers are not aware that if this happens to any customer, then the Reserve Bank of India has also made a rule for the customers to deal with this problem. Under this rule of RBI, if there is a delay in getting your money back if money is stuck in the ATM, then you can also take compensation from the bank.
This is the rule of RBI
According to the rules of the Reserve Bank of India, if money is deducted from a customer’s bank account during a transaction but does not come from an ATM, then within seven working days of receiving the complaint in the bank, the customer is trapped. Money has to be returned.
Whereas this refund period was 12 days. But if now the bank does not return the money in 7 days, then from that day till the day the money does not come in the customer’s account, till the day the money is not received in the customer’s account, he has to pay compensation of Rs 100 every day. Most of the customers are not aware about this rule of RBI.
File a complaint within so many days
In such a situation, to get the penalty from the bank, it is most important that you have to file a complaint within 30 days after the failure of the transaction. Due to which you can file a complaint with the bank with the transaction slip or account statement.
You will also have to tell the details of your ATM card to the bank employee in case the money is stuck in the ATM. But the PIN of the ATM will not be revealed even by mistake. So if your money is not received within 7 days then you have to fill the Annexure-5 form.
So in such a situation, from the day you fill the Annexure-5 form, till the day you do not get the money, the bank will have to pay a compensation of Rs 100.